You continue to prove what a caring fiscal conservative you are ever day!
Carbon pricing — the method favored by many economists for reducing global-warming emissions — charges those who emit carbon dioxide (CO2) for their emissions. That charge, called a carbon price, is the amount that must be paid for the right to emit one tonne of CO2 into the atmosphere.[1] Carbon pricing usually takes the form either of a carbon tax or a requirement to purchase permits to emit, generally known as cap-and-trade, but also called "allowances".
Carbon pricing solves the economic problem that CO2, a known greenhouse gas, is what economics calls a negative externality — a detrimental product that is not priced (charged for) by any market. As a consequence of not being priced, there is no market mechanism responsive to the costs of CO2 emitted. The standard economic solution to problems of this type, first proposed by Arthur Pigou in 1920, is for the product - in this case, CO2 emissions - to be charged at a price equal to the monetary value of the damage caused by the emissions. This should result in the economically optimal (efficient) amount of CO2 emissions. Many practical concerns mar the theoretical simplicity of this picture: for example, the exact monetary damage caused by a tonne of CO2 is uncertain.
https://en.m.wikipedia.org/wiki/Carbon_price
